Enfusion downgraded to Hold from Buy at Stifel

Stifel analyst J. Parker Lane downgraded Enfusion (ENFN) to Hold from Buy with a price target of $11.25, down from $13, after the company announced an agreement to be acquired by Clearwater Analytics (CWAN) for $11.25 per share. The firm believes $11.25 “represents a solid outcome for Enfusion” and views the likelihood of a competing bid as low, the analyst tells investors.